The Basket-case Economy- The UK or Panama?? Darling hopelessly wrong again
Panama announces major oilfield discovery in Darien. I seem to remember a number of the Darien shares were lodged, (for safekeeping) with the, Bank of Scotland. Might be Scotland retains some control of the area formally settled and claimed for Scotland all those year’s ago. Darling keen to put Panama down as a basket-case economy
But the truth is that it is the UK that is operating a basket-case economy and in the event of a, “no” vote Westminster will, (soon after) set about reducing the UK deficit, which is now larger than the total world deficit that brought the World to it’s knee’s in the 1930’s. Austerity measures. “You ain’t seen nuthin’ yet”.
The UK population is currently, severely burdened down with debt, (encouraged by the excesses of successive governments). It is calculated that the debt, ( spread evenly across every household) equates to about 50% of the total weekly cash available to them.
The Governor of the Bank of England has given formal notice to the Con/Dem government that inflation, now rife in the economy will need to be reduced significantly or the UK will be in, “deep S***t.
The problem for the UK population is the only feasible fiscal correcting measure is a sharp rise in interest rates. A rise which will result in widespread bankruptcy, loss of jobs, homes and other moveable / transferable assets for many millions of UK citizens.
These measures will be kept well hidden until the, “Chancellors Autumn Statement” (well after the referendum) so as not to influence the Scottish vote in favour of independence. Scot’s need to be aware of the foregoing so that they will be able to vote, “Yes” in the referendum. “Beware of locusts bearing gifts” since there is very often a, “sting in the tail”.